National Republican., 1887-09-21
DEFENDING ON THE TREASURY.
Wall Street Anxtousiy Seeking Some
Relief from That Quarter.

Relief from That Quarter.
NEW York, Sept. 20.-The stock market
to-day was more active than for many
weeks, but its tone was feverish and irregu-
lar; generally weak In the forenoon aud
strong later In the day. Tue liquidation
which made some progress yesterday was
continued today, and the pressure of long
stock during the morning hours was very
heavy, and over one-hfth OF the total days
transaction was made In the first half hour
and over three fifths from 10 to IL o'clock.
The distrust OF the monetary situation was
much intensified, while the temper OF the
room was bearish, and, as there was no au-
thentic news from the treasury, upon which
al eyes were turned, the selling began In
earnest.
|. There was some buying for foreign
accouBt, and commission houses had a
few orders from investors, but
the . aggregate Of these was 80
Insignificant that they made no impression
on prices. Everything went and the dc
clints established differed, while In some In.
stances lower prices than had been attained
at any. previous time this year were re.
corded. After noon, however, the pressure
was somewhat relieved, and the report that
powerful interests were buying the market
created a revulsion In feeling, while the
room traders quickly got over to the bull
side and became active In bidding up prices.
The impression that the treasury will
take some action toward relieving the
money market also had much to do with
the more settled aspect Of the market dur
ing the afternoon, as should more liberal
policy be announced the banks would loan
money more freely, and II, as is generally
believed, the active stocks are largely over
sold, healthier condition of prices would
result. The Improvement In the afternoon
was nearly equal in extent to the depres-
sion In the forenoon, aud In many cases net
gains Tor the day were made. Tue open.
ing was very active and decidedly weak,
though prices were irregular. The decline
was very sharp, however, and In the first
hftetn minutes losses ranging up to 81 per
cent. were made.
An equally sharp rally followed, after
which little progress was made in either
direction until the next hour, when the
same sharp break ensued, while the recov.
cry was not 30 vigorous. A more settled
tone then became apparent, and, though
prices declined further the market became
more quiet, after which more decided
strength was shown than at any previous
time during the day. The upward move.
ment met with no serious setback and
closed only with the close OF the board.
Good progress was made IN the active stocka
active and hrm-at irregular changes from
first prices.
Money on call has been active, opening,
at 8, ranging from 4 to q last loan at 5,
and closing offered at4 Sterling exchange
is quiet, aud fairly steady. Actual business
at 4s0t for 6Oday bills, and Ash to 4s42 for
demand. Posted rates, 4Sl to 1851. Gov
eminent bonds dull but firm. State bonds
dull and steady.
Treaaury 6aIoncea- Cn;n S1a4 400 ny.
currency, $13,0SS, ,0l5.34
The following were tho closing bid quota
lions
As, 1241ss; ~ coup, 1oS; Pac. es of '95, 122;
P1st Cons col sl l8SS5s SS q. *i ga g. gold soS
6s, 1913: do. as, 97lt; Tenn. settlement 6s +lO5;
90. 5s, slO2l5; Va. 6s, A.; do. consols X N.
g, 40; Tenn. settlement ss, 40; Cen. Pac.
hrsts, sll494; DENY. and X. g. tirsts, 20; NJ. X.
and T., $50; Northern Pac. frsts, 1l8l+; do.
seconds, 10ls4; Northwestern cons, 1885,; do.
debenture, *l0sI1 81, L. and san Fran, ll3Ia 81.
Paul con-, l279S IT. l. Chicago, and Pac, nrSts,
.lls; Southern poi flrsts, III; t. P. K, g. aud
g, 5g54; Northeri, Pac. iirsts, ll3; West Shore
gS; Adams Express 40; Alton and I. Il.
T2 5S do Sap apd d. O An E5ggreRs s5g lo5 M BSs A,
Southern, 581S; Canton, .55; Cen. Pac., 33%
Ches. and Ohio, o; Chicago and Alton, 49,
hG snd Pa and lSS cSn Snd Coal S 49, s po GGys nSS
5Is. Mud.' g; Del and L., l?6}s; DENY; and R. G.,
III; Rams. and Texas, 22I5 L. X. and W., 1877:
Lake Shore, 929s; Lvl. and Nash, 59y2
NJ M IT, % iiss aich M cen ana sa5 Gnaf No. pac.;; a.;
92; Mob. and o., 10; Mar and E., 1851
n; Chat, 72 n, J. Cen, 6g,1; Norfolk aud
Western pfd.. 3g,s, Northern Pac., 24I4; do. pfd,
Y: Cen, loe15; Chicago and st. L.. 1i5l; do
pfd., q; Ohio and Miss 2i76 do. pfd S5;
Oregon Nay. S5 Pac. Mail, 3354; Pitts.
Aleg., IS: Richmond and Dan, $50; Rock
IsPd, 1lSls; st. l.. and San. Fran, 80: do pfd.,
90: do. first pfd;, ITO; st. Paul, sil1ss; do ptd.
Pac., 222s; Union Pac., 5i1t; u S. X, s7s; wab
Pac., 1614; Wells Fargo, 2s; do. pfd, 100;
West. Union, 7l1s Tenn. Coal and Iron, 20;
Cotton OIL Trust 27; Quicksilver, s; do.